According to Yonhap News,

(SEOUL = Yonhap News) Minister of Trade, Industry & Energy Yoon Sang-jick held a luncheon meeting with governors of the American Chamber of Commerce in Korea (AMCHAM Korea) at Lotte Hotel Seoul in Sogong-dong, Seoul on April 17 and called for further investment in Korea.

The meeting was attended by ten AMCHAM Korea governors including AMCHAM Korea’s Chairman James Kim and President Amy Jackson and other officials including Choi Kyung-lim, Assistant Vice Minister of Trade of the Ministry of Trade, Industry & Energy (MOTIE).

“MOTIE is set to make Korea a ‘global business hub’ by creating a better investment environment for both domestic and international companies,” said Yoon. “Conducting regulatory reforms is one of the ministry’s approaches to vitalizing corporate investment.”

Yoon added that MOTIE will actively proceed with reforms by reexamining current regulations and find and improve “bulky regulations” and “regulations on inter-ministerial integration.”

Regarding the free trade agreement signed between Korea and the United States two years ago, the minister said that it “has shown strong results and brought mutual benefits for two nations” and “is expected to enhance economic cooperation through tariff reduction and a more open business environment.”